Thursday, July 31, 2014

Price did not find any support from different timeframes

Shift in value after no support bounce

Hi traders, Now I am about to discuss few points about when "Price did not find any support from different timeframes" in recent strong move bounce from the low. In forex trading it is necessary to watch logic and remain conscious is the next thing to do. We might see strong trend up or down but relavant information is not necessary in forex trading to enter or exit

Different Forex Strategies points to different price behaviour

Different Forex Strategies tells us that what candles and indicators are doing with current Strong or rangebound trading.

But when You see immediate bounce when there is new low or new high that reverse the price, then it is known as No support show from other timeframes and the bounce might countinue lift price specially if there is shift in value immediately.

Recently I have supported such activity in Eur/cad Chart

Following the explanation of above mentioned comments, I am posting a recent updated chart of eur/cad when we spot such activity and there could lot more to come ahead of Canadian GDP data which is due to release today, So If you are good enough to spot another low risk entry then this chart can fetch some good profits.

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